National Pension Scheme fee hike to make pension fund mgmt sustainable: IDFC

IDFC, one of the fund managers of National Pension Scheme (NPS), today said the proposed revision in fund management charges will help sustain the retirement fund industry in the long-run as all players are losing money under the present fee structure.

"The proposal to raise fund management charges in NPS will sustain the pension fund industry in the long-run as all players are losing money with the current charges," IDFC Chief Executive for Pension Funds Vikash Raj told reporters here.

Contribution Cards For CPF Subscribers

There are 11.18 Crore member accounts with Employees’ Provident Fund Organisation (EPFO) as on 07.08.2012. An e-Passbook facility, which can serve as Contribution Card, has been provided to EPFO subscribers. Members can access all the entries in their account with the facility to take a print out of their account statement.

The e-Passbook facility is already implemented in EPFO w.e.f. 20.07.2012. As the facility is being provided electronically, it is free of cost to the EPF subscribers.

One Rank one Pension - Lok Sabha News

Ministry of Defence

One Rank one Pension

On the recommendations of PMO, a Committee was set up under the Chairmanship of Cabinet Secretary in June, 2009 to look into the issue of 'One Rank One Pension and other related matters'. After considering all aspects of the matter, the Committee keeping in mind the spirit of the demand, suggested several measures to substantially improve pensionary benefits of Personnel Below Officer Rank (PBOR) and Commissioned Officers, which have been accepted by the Government and orders for implementation of all the recommendations have been issued. 

Kerala to introduce Contributory Pension scheme for Government Staff

The employees would be required to contribute 10 per cent of their pay and dearness allowance to the pension fund. The government would also make a contribution to the fund.

The government has issued orders approving, in principle, the proposed contributory pension plan for government employees. The plan is proposed to apply to new recruits joining service from next year.

The employees would be required to contribute 10 per cent of their pay and dearness allowance to the pension fund. The government would also make a contribution to the fund.

Onam Festival – Salary and Pension in advance

All Central Government Employees and Pensioners in the State of Kerala would get theirSalary/Pension for the month of August 2012, four days in advance i.e on 27th August 2012, in view of Onam Festival which is to be celebrated on 29th August 2012.

The Office Memorandum No: 3(2)/TA/2012/518 dated 03.08.2012 issued by Department of Expenditure is as follows.

No 3(2)/TA/2012/518 

Ministry of Finance

Department of Expenditure

Controller General of Accounts

Lok Nayak Bhawan, Khan Market, 

New Delhi, Dated: 03-08-2012.

OFFICE MEMORANDUM

How To Make Changes In Your NPS Subscriber Data?

Subscribers to the National Pension Scheme (NPS) must submit their name, date of birth, contact information, bank account details and other personal details while opening an NPS account.

This information is noted by the CRA and a Permanent Retirement Account Number (PRAN) is allotted to the investor. The subscriber can change or carry out corrections in the details provided, including nomination. If the change necessitates the reissue of a fresh PRAN card, the same will be issued by the CRA.

Family Pension to Parents of Armed forces Personnel-Clarification

It has been clarified by GOI, MOD that in the cases deceased Armed forces Personnel is not survived by a widow/widower or child, the dependent parents become directly eligible to receive family pension. In case where a deceased Armed forces personnel is survived by a widow/widower or child and position changes subsequently because of death or remarriage of the spouse and / or death or ineligibility of child / children including disabled child, the dependent parents become eligible for family pension.

The detailed Circular issued by Princiap Controller of Defence in this issue is as follows

Office of the Principal Controller of Defence

Accounts (Pension)

Draupadi Ghat, Allahabad – 211014

Circular No: 484

Dated 11.07.2012

To,

The OI/C,

Records PAO (ORs)

Revised Pension for Pre-2006 Pensioners and Family Pensioners

Background:

When Sixth Pay Commission was implemented by Government with effect from 1st January 2006 in respect of Central Government Employees and pensioners who got retired after 01.01.2006, Pension payable to Central Government Pensioners and Family Pensioners entitled to pension as on 31.12.2005 (popularly called as Pre-2006 Pensioners) was also revised. The Pension / family Pension of Pre-2006 Pensioners as on 31.12.2005 was revised by adding together:-

1. The Pension or Family Pension as on 31.12.2005.

PFRDA Issues Revised Set of Guidelines for Registration of Pension Fund Managers to Manage National Pension System for the Non-Governmentand Private Sector

The Pension Fund Regulatory and Development Authority (PFRDA) today issued a revised set of guidelines for registration of Pension Fund Managers (PFMs) to manage the National Pension System (NPS) for the non-government and private sector.

The revised guidelines, available on PFRDA’s website www.pfrda.org.in, have done away with the earlier bidding process, wherein a pre-determined number of slots were bid for by the PFMs, and the fees charged by them for managing the pension funds had to be uniform for all players.

Result of Meeting held on 18th July for One Rank One Pension

On 18th July 2012, the three service chiefs, led by Admiral Nirmal Verma, Chairman Chiefs of Staff Committee (CoSC) met with a high-powered Committee of Secretaries constituted by the Prime Minister to resolve anomalies in the implementation of the Sixth Pay Commission award for the Armed Forces.

Although a total of 39 anomalies have been identified by the three services since 2008, they have decided to concentrate on some core issues that directly affect both serving and retired armed forces personnel.

The issues are:

Centre gave free hand to states to fix the retirement age of lecturers

New Delhi, July 20, 2012(TNN):The Cabinet on Thursday cleared a proposal giving free hand to state governments to fix the retirement age of teachers in institutes for higher education run by them.

This decision has also paved the way for release of arrears due to teachers of state government-funded colleges and universities following implementation of the Sixth Pay Commission.

HC to State: Pay pension to retd professor

Mumbai, July 19, 2012(PTI); The Bombay High Court has asked Maharashtra government to pay pension forthwith to Dr Dilip Sadashiv Joag, retired professor of Pune University, under the pension scheme.

The direction was given by a division bench on July 16 on a petition filed by the professor urging for pension. Joag was appointed on August 14, 1980 as a lecturer on temporary basis and thereafter on March 16, 1985 he was appointed as a lecturer on permanent basis.

How to balance future and present financial needs

Jayesh is a 36-year-old father of two. He is the sole breadwinner of his family and earns a good income. Jayesh has been careful with money and has set asavings and investment plan in place which he adheres to religiously. He is sure that he is well on track to meet all his goals, such as his retirement and the children's education and other needs. 

However, he is finding it increasingly difficult to manage his current expenses and savings. He wonders if he should cut down his expenditures so that his future is not at risk. 

SALIENT FEATURES OF DRAFT NATIONAL POSTAL POLICY, 2012

        1. Setting up a 'Postal Development Board' for overall development and governance of Postal Sector. Besides this, the Board will draw roadmap for unbundling of functions (operations, regulation and policy making) in postal sector over a period of time, in order to develop an organized, competitive, effective, well governed and commercial postal market in India.

2. Constitute Postal Advisory Council comprising policy makers, postal operators and other stakeholders. The council will be an advisory body for effective implementation of the policy.

PFRDA Issues Revised Set of Guidelines for Registration of Pension Fund Managers to Manage National Pension System for the Non-Government and Private Sector

Press Information Bureau 

Government of India

Ministry of Finance 

12-July-2012 18:10 IST

PFRDA Issues Revised Set of Guidelines for Registration of Pension Fund Managers to Manage National Pension System for the Non-Governmentand Private Sector 

The Pension Fund Regulatory and Development Authority (PFRDA) today issued a revised set of guidelines for registration of Pension Fund Managers (PFMs) to manage the National Pension System (NPS) for the non-government and private sector. 

Engagement of two Consultants under the Plan Scheme `Pensioners' Portal.

No. 55/412012-P&PW-(C) 

Government of India 

Ministry of Personnel, P.G. and Pensions 

Department of Pension and Pensioners' Welfare 

3rd Floor, Lok Nayak Bhavan, 

New Delhi, the 27th  June, 2012 

OFFICE MEMORANDM 

Subject:  Engagement of two Consultants under the Plan Scheme `Pensioners' Portal.

This Department has been implementing a Plan Scheme namely 'Pensioners' Portal — a Mission Mode 'Project under NeGP, Government of India.

RENEWAL OF FAMILY PLANNING INSURANCE SCHEME W.E.F. 1ST JANUARY, 2012

No.N.23011/68/2011-FW (Ply)
Government of India
Ministry of Health & Family Welfare
Family Welfare Policy Section
Nirman Bhawan, New Delhi

Dated 27th December, 2011

To,

All State Principal Secretaries/secretaries (Health & FW)

All India Services (Death-cum-Retirement Benefits) Rules, 1958 - Rule 16(3) — Guidelines for intensive review of records.

To view DoP&T's complete order No. 25013/02/2005-AIS II, dated 28th June, 2012, please Click here.

10 Things To Do Before You Retire

Don’t put off today what you can’t afford to do tomorrow. In spite of the world wide pension crisis and a growing acceptance that we must plan and save for our retirement, the harsh reality is we are actually not saving enough. Research reports reveal that only 15% of the individuals are saving sufficiently for their retired life. Here are a few tips on things to do before you retire so that your retired life is more comfortable and enjoyable.

Retention of Quarters by re-employed pensioners :

The Directorate of Estates, New Delhi, has issued OM dated 14.06.2012 clarifying that the Officers who retired before 30.09.2009 and re-employed or appointed in Central Government on tenure basis can avail  the un-availed period of retention of 8 months of Govt. accommodation immediately after termination of such re-employment.  It has been clarified that this facility is available only to those Officers retired before 30.09.2009.

For Officers who retired on or after 30.09.2009, this period of retention has to be availed availed immediately after the superannuation and it cannot be availed in piecemeal or postponed to a later date on their reemployment etc.

Full Test of OM No.12035/28/96-Pol.II (Vo.I)dated 14.06.2012 is reproduced below :